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S. 1388119th CongressIn committeeLatest action Apr 9, 2025Decoded by AI · checked against the record
The plain-language version leads. The official text is always the reference.
S 1388 requires CFIUS security review for greenfield investments by foreign countries of concern before building on U.S. soil.
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S 1388 expands the authority of the Committee on Foreign Investment in the United States (CFIUS) to cover greenfield investments, meaning cases where a foreign investor buys or leases American land and builds a brand-new facility on it. Currently CFIUS only reviews deals involving the purchase or takeover of existing American businesses. Investors connected to designated foreign countries of concern would be required to file formal notice with CFIUS before proceeding.
The bill targets foreign investors linked to governments of countries of concern, a category that includes nations such as China, Russia, Iran, and North Korea. American landowners or businesses that partner with those investors, and communities that might otherwise receive foreign-funded facilities or jobs, could also be indirectly affected.
CFIUS would gain authority to investigate new foreign-built facilities for national security risks and could block projects it deems a threat. Communities and American partners involved with investors from countries of concern may face disrupted or blocked development plans as a result.
AI-drafted summary. Verify it against the official text before you act on it. Read the official bill on Congress.gov
Right now: a Senate committee is reviewing it. If the House changes it, it goes back to the Senate before reaching the President.
Latest action: — Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.